Procedure for Reconciling Accounting Spreadsheet with Accounts

THIS PROCEDURE IS NOW OBSOLETE. WE MAINTAIN FINANCIAL RECORDS IN QUICKBOOKS NOW.

• To confirm that all transactions are entered and accounted for, you should add up the balance of cash in the cashbox, the balance in the paypal account, the balance in the google checkout account (usually zero, as google deposits regularly, unlike paypal, which maintains a balance), and the balance of the checking and savings account at Y12FCU. This total should match the current running balance in the accounting system spreadsheet.
• If the numbers do not match, subtract to find the difference. Often it will be a common amount, such as $48.25. That value is the net result from one month's dues via paypal. That example would indicate a missed paypal transaction. Other values that do not correspond to a transaction are commonly tied to a data entry error.
• Additionally, there is sometimes a processing delay between balance and transactions listed. For example, if the transaction for paying the electric bill is entered into the spreadsheet before the transaction enters Y12FCU's system, there will be a difference that will corrected soon.